China AR/VR/Smart Glasses Market Analysis, Q4 2023
Overview:
VR shipments in the Chinese market dropped 61% YoY in CY2023, in line with our previous projections. The decline in the consumer segment was notably more pronounced than in the enterprise segment. However, in Q4 2023, VR shipments in China surged by 53% QoQ, fueled by vigorous promotional activities from OEMs during the 11.11 Single’s Day sales and increased demand from China’s enterprise segment. OEMs focusing on the enterprise market, such as DPVR, showed more resilience than their consumer-sector peers.
In contrast to the stagnation in China's VR market, the AR smart glasses market in China experienced a remarkable 67% YoY surge in CY 2023. This growth was propelled by the strong introduction of new products targeting the Chinese consumer segment. These glasses can be primarily classified into two categories: video-watching AR glasses and information-display AR glasses. A notable development in China’s AR market in Q4 2023 was the release of TCL-RayNeo’s X2, a standalone AR glass based on Qualcomm’s XR 2 Gen 1 SoC, and RayNeo’s self-developed Polychrome Micro LED + Diffractive waveguide solution. Although its FoV remained limited compared to products based on mature solutions, it made progress as an independent lightweight product featuring a complexity of functionalities.
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Category
Industry
Emerging technologies
Report Type
Report
Time period
Quarterly
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Author
Flora Tang
Flora is a Senior Analyst at Counterpoint Research, based in Hong Kong. With over nine years of experience in the mobile industry, she specializes in analyzing the consumer electronics market and the Chinese supply chain. Flora has held various roles in the market intelligence and business strategy functions with leading Chinese smartphone OEMs, internet company and telecom operator. She initially joined Counterpoint Research in 2017 but later moved on to play key roles in OPPO’s international business strategy in 2021 and HONOR’s corporate strategy planning in 2022. Flora has since returned to Counterpoint, where she now serves a broader array of global technology players. Academically, Flora holds a bachelor’s degree in International Relations from Sun Yat-Sen University and a master’s degree from The Chinese University of Hong Kong.
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